Ripple XRP/USD completes the trading week at 0.31 and continue to move in a bearish trend. At this point, we should expect an attempt to test the resistance level near the area of 0.40. Whence again we should expect a rebound and the continued fall of the cryptocurrency into the area below the level of 0.21.
Ripple weekly forecast & analysis August 13 — 17, 2018
In favor of lowering the quotes XRP/USD will come the test of the bearish trend line on the indicator of relative strength index (RSI), as well as the test of the upper boundary of the bearish channel. Cancellation of the variant of Ripple’s crypto currency fall will be a strong growth and breakdown of the area of 0.4350, which will indicate the breakdown of the upper border of the channel and the continuation of the growth of quotations XRP/USD. Confirmation of the decrease of the crypto currency will be the breakdown of the support area and the closing of quotations below the level of 0.30.
Ripple weekly forecast & analysis August 13 — 17, 2018 suggests an attempt to test the resistance level near the 0.40 area, from which it is expected to continue falling quotations with a potential target at 0.21, an additional signal in favor of the Ripple decline is the trend line test on the relative strength index (RSI).